Stocks fell for the second session in a row, with the S&P losing 2.49% on Thursday on the heels of the Fed's .50% rate hike. Asia markets fell overnight while Europe indexes are in the red this morning. U.S. futures are pointing to a lower open, the Dollar and Oil are lower while Yields and Gold are higher.
And this is what UPB is reading this morning: https://www.optionmillionaires.com/morning-reads-160/
Stocks fell again on Thursday, continuing their post-fed sell-off. As I have mentioned many times, think markets are starting to price in a Fed induced recession. The SPY broke under its 200dma and the 50dma is now looming at $385. If that fails to hold fear we will revisit the $370s next week:
Despite the market weakness, RARE was able to close in the green once again. Will start looking to possibly add some January strikes today:
NFLX was pummeled yesterday on reports their ad supported service is coming in worse than expected. If it can hold $280, could provide a nice bounce opportunity so may be watching for some calls today:
BLK is back on the radar. The stock tested the lower Bollinger band yesterday and could see a bounce back to $720 or so. Will be eyeing some possible speculative lotto calls today:
SQ found pressure at the open yesterday so I passed on adding calls. Still think this can head higher in the coming weeks so will be watching again for an entry:
Having issues with the analyst changes today, my apologies.
Here is what I am watching today; BLK, NFLX. SQ, RARE, AYX, ROKU,, SPOT, BURL, WYNN, NVDA, COST, DIS, DKS, U, TWLO, WING, CMG, and DPZ
Let's have a great day!